Every controlled insurer shall have an audit committee of the board of directors composed of independent directors. The audit committee shall annually meet with management, the insurer’s independent certified public accountants, and an independent casualty actuary, or other independent loss reserve specialist acceptable to the Mayor, to review the adequacy of the insurer’s loss reserves.

History

Oct. 21, 1993, D.C. Law 10-52, § 6, 40 DCR 6129

Prior Codifications

1981 Ed., § 35-4005.

Section References

This section is referenced in § 31-403.